Pharma cos alerted on cyber crime

A certain email scam is targeting companies that send or receive foreign remittances.Three instances of the kind that occurred in the pharma industry have come to the notice of Cyberabad police.TNN | Updated: October 29, 2016, 07:19 IST

Representative image HYDERABAD: Frauds have been using three or more different methods to siphon money after hacking into emails of businesses, especially the pharmaceutical sector, forcing Cyberabad police to caution companies to take required precaution.

In a media release police said scamsters had hacked into the email server of one company to send emails to customers about a change in bank information. They also sent 'signed' confirmation letters to customers with this new bank information on the company's letterhead. The frauds may have got complete access to old emails sent by the company.

Without the unsuspecting companies getting a whiff, the frauds managed to open bank accounts in its name in various European banks.

"The scamsters have been able to open bank accounts in Indian companies' name. This opening of fraud accounts with Indian addresses leads to a strong suspicion and that the perpetrators have somehow circumvented the proven international banking procedures,'' the media note said.

In another cheating method, frauds have been targeting wire payments made outside but originating in India. They send emails pretending to be vendors or agents who need to paid in tweaked domain names -- for example a company @xyzchemical.com is changed to @xyzchemicals.com. The company mistakenly takes it as the right account and sends across the money.

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